Piper Sandler Reiterates Overweight Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “overweight” rating restated by equities research analysts at Piper Sandler in a report released on Wednesday, Benzinga reports. They presently have a $420.00 price objective on the medical technology company’s stock, up from their prior price objective of $380.00. Piper Sandler’s price target would indicate a potential upside of 17.88% from the stock’s previous close.

A number of other equities research analysts also recently commented on SYK. Royal Bank of Canada raised their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday. Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Down 2.0 %

NYSE:SYK opened at $356.28 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $359.90 and its two-hundred day moving average is $344.06. Stryker has a 52 week low of $264.85 and a 52 week high of $374.63. The stock has a market capitalization of $135.72 billion, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 earnings per share. Research analysts anticipate that Stryker will post 12 EPS for the current year.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.